Operating expenses of a bank as a share of the value of all held assets. Total assets include total earning assets, cash and due from banks, foreclosed real estate, fixed assets, goodwill, other intangibles, current tax assets, deferred tax, discontinued operations and other assets.

Raw data are from Bankscope. Data2090[t] / ((data2025[t] + data2025[t-1])/2). Numerator and denominator are first aggregated on the country level before division. Note that banks used in the calculation might differ between indicators. (Calculated from underlying bank-by-bank unconsolidated data from Bankscope)